Service Properties Trust (NASDAQ:SVC) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Service Properties Trust (NASDAQ:SVC) from a strong sell rating to a hold rating in a research note issued to investors on Tuesday,Zacks.com reports.

SVC has been the subject of a number of other reports. B. Riley restated a “neutral” rating and set a $3.00 price objective (up from $2.00) on shares of Service Properties Trust in a research report on Thursday, September 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Service Properties Trust in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company upgraded shares of Service Properties Trust to a “hold” rating in a research report on Friday, October 3rd. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $2.75.

Service Properties Trust Trading Down 1.1%

Shares of SVC stock traded down $0.02 during trading hours on Tuesday, hitting $1.75. 1,568,398 shares of the company’s stock traded hands, compared to its average volume of 1,661,326. The stock has a market cap of $294.15 million, a PE ratio of -1.05 and a beta of 1.86. The stock’s 50 day simple moving average is $2.46 and its 200 day simple moving average is $2.46. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 5.79. Service Properties Trust has a 12 month low of $1.71 and a 12 month high of $3.08.

Service Properties Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Monday, October 27th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, October 27th. This represents a $0.04 annualized dividend and a dividend yield of 2.3%. Service Properties Trust’s payout ratio is presently -2.40%.

Hedge Funds Weigh In On Service Properties Trust

Several large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. boosted its holdings in Service Properties Trust by 114.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,118,530 shares of the real estate investment trust’s stock worth $10,749,000 after acquiring an additional 2,200,754 shares during the last quarter. Capital Management Corp VA boosted its holdings in Service Properties Trust by 27.5% during the second quarter. Capital Management Corp VA now owns 7,225,765 shares of the real estate investment trust’s stock worth $17,270,000 after purchasing an additional 1,559,600 shares during the last quarter. Nuveen LLC bought a new stake in Service Properties Trust in the 1st quarter worth about $3,306,000. Brigade Capital Management LP purchased a new stake in Service Properties Trust in the 1st quarter valued at about $2,375,000. Finally, Allianz Asset Management GmbH lifted its position in shares of Service Properties Trust by 32.6% during the 1st quarter. Allianz Asset Management GmbH now owns 2,360,581 shares of the real estate investment trust’s stock worth $6,161,000 after buying an additional 580,754 shares in the last quarter. 77.62% of the stock is currently owned by institutional investors.

About Service Properties Trust

Service Properties Trust (Nasdaq: SVC) is a real estate investment trust with over $11 billion invested in two asset categories: hotels and service-focused retail net lease properties. As of December 31, 2023, SVC owned 221 hotels with over 37,000 guest rooms throughout the United States and in Puerto Rico and Canada, the majority of which are extended stay and select service.